SOURCE: Brower Piven, A Professional Corporation

February 14, 2012 16:15 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $150,000 From Investment in K12, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the April 2, 2012 Lead Plaintiff Deadline

STEVENSON, MD--(Marketwire - Feb 14, 2012) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Virginia on behalf of purchasers of the common stock of K12, Inc. ("K12" or the "Company") (NYSE: LRN) during the period between September 9, 2009 and December 16, 2011, inclusive (the "Class Period").

If you have suffered a net loss for all transactions in K12, Inc. common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than April 2, 2012 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that the Company had engaged in improper and deceptive recruiting and sales strategies aimed strictly at enrolling students regardless of the students' ability to successfully complete the curriculum, the administrative pressure from upper management levels to pass students despite poor (or nonexistent) academic performance in order to maintain high enrollment levels and in turn continued government payments, and the Company's failure to maintain overall math and reading performance levels of its students equal to statewide grade-level performance. According to the complaint, after, on December 12, 2011, The New York Times released an article titled "Profits and Questions at Online Charter Schools" chronicling a myriad of improper practices at K12's main virtual charter schools, including the undisclosed recruiting and passing practices and poor student performance, the value of K12 shares declined significantly.

Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    410/415-6616
    Email Contact